Business

SK Hynix says will bid for Toshiba's memory chip business as part of a consortium

Published: 4:20 PM, May 19, 2017
Updated: 6:00 PM, May 19, 2017

SEOUL - South Korea's SK Hynix Inc <000660.KS> said on Friday it will submit a final bid for Toshiba Corp's <6502.T> memory chip business as part of a consortium.

The company did not say what other companies were in the consortium.

People familiar with the matter told Reuters earlier on Friday SK Hynix will be part of a consortium led by U.S. buyout firm Bain Capital LP, which seeks to buy a majority stake in the Toshiba chip business, offering around 1.5 trillion yen ($13.49 billion). REUTERS